Diana Shipping – DSX – To acquire a newly-built Post-Panamax dry bulk carrier
NYSE: DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to acquire a newly-built Post-Panamax dry bulk carrier of 98,704 dwt, built by Tsuneishi Group (Zhoushan) Shipbuilding Inc., from a third party seller for a purchase price of US$24.6 million. The vessel, to be named “Polymnia”, is expected to be delivered from the yard to the Company by the sellers by the end of November 2012.
Including the aforementioned vessel Diana Shipping Inc.’s fleet currently consists of 30 dry bulk carriers (17 Panamax, 3 Post-Panamax, 8 Capesize and 2 Newcastlemax), as well as 2 new-building Ice Class Panamax vessels expected to be delivered to the Company during the fourth quarter of 2013. As of today, the combined carrying capacity of our current fleet, excluding the three vessels not yet delivered, is 3.3 million dwt with a weighted average age of 6 years.
About Diana Shipping – DSX
Diana Shipping Inc. (DSX) is a leading global provider of shipping transportation services through the ownership and operation of dry bulk vessels. DSX’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
DSX is a holding company. It specialize in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. The Company’s fleet consists of 23 dry bulk carriers, of which 14 are Panamax, one is Post-Panamax and eight are Capesize dry bulk carriers, having a combined carrying capacity of approximately 2.5 million dead weight tons (dwt). As of December 31, 2010, its fleet consisted of 14 modern Panamax dry bulk carriers, one Post-Panamax, eight Capesize dry bulk carriers, and two container vessels, owned by Diana Containerships, that had a combined carrying capacity of approximately 2.6 million dwt, and a weighted average age of 5.4 years, excluding the container vessels owned by Diana Containerships and its Newcastlemax vessels under construction.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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